A $10,000 Opportunity
If you’ve ever had an idea for your own business, here is your chance: Humberlaunch is giving away 10,000 dollars in exchange for an exciting new business plan.
Humberlaunch is a program that helps students and members of the community looking to grow a business. They provide mentoring and basic information to help the everyday entrepreneur. Humber Applied Research Innovations is an institution that is responsible for ethical research and innovation activity at Humber College.
This year, Humberlaunch is hosting the annual “New Venture Seed Fund” competition for Humber College and The University of Guelph-Humber students. Students submit a business plan, and it will be entered for an opportunity to win up to 10,000 dollars. The money will go toward starting up their business idea.
Teams can be set up in groups, but the leader of the group must be a near graduate or a recent alumnus from either school.
Up to 12 applicants can be chosen by a panel of surprise judges that are professionals in business and marketing. Then, they will meet with HumberLaunch and Humber Applied Research and Innovations to create a budget, once they have approved their plan. The winners will work together with them to get their business moving. That means that up to 80,000 dollars will be split amongst the winners.
The main goal is to help struggling entrepreneurs to launch their own businesses. HumberLaunch is all about supporting their entrepreneurs by giving opportunities for mentorships, office space, and basic venture tools.
“One of the main things that is missing is startup capital and New Venture Seed Fund fills that gap,” said Humberlaunch Program Assistant Bram Cherun.
Although 10,000 dollars won’t get their business completely up and running, it will be a good start.
Cherun said this competition is a great opportunity for entrepreneurs to get their idea heard and get a start on their entrepreneurial future. He also encourages students to enter not just to win but because it is an opportunity for those to validate their ideas. Entering would be a way for professionals in the industry to let you know whether your idea could make it big or not.
“I absolutely encourage all students from every program at Humber to apply if they have an idea that they are passionate about turning into a business,” Cherun said.
Humber student Emily Randhawa said she is thinking about entering the competition.
“This competition seems like a great opportunity and I feel like not only myself, but a lot of students could really benefit from it,” she said.
Students must submit the first round of applications by Nov. 25 2015. The forms can be found at humber.ca/humberlaunch/.
Related Posts
Students must fight temptation to start saving money, experts say →
Promoting businesses on Instagram →
Millennials creating their own businesses and opportunities →
